Latest update August 14th, 2026 10:25 AM
Latest News
- ExxonMobil produced one billion barrels of oil in less than 7 years – Routledge
- Canadian firm announces plan to advance, integrate 3.2M ounce gold project with 4.64M Oko West project
- 15-year-old arrested after Corriverton fisherman dies following altercation
- Huge oil spill off the coast of Oman now covers hundreds of square miles
- US$3.6B spent in local companies since 2019 – Exxon
Australian firm secures US$3.5M to fund exploration, other works at newly acquired gold project in Guyana
(Kaieteur News) – Australian-listed Liberty Metals has secured A$5 million (approximately US$3.5 million) through a share placement to fund exploration and other works, at its newly acquired Oko North and Oko South gold projects in Guyana.
Liberty Metals entered into a binding four-year option agreement with a private Guyanese vendor (name not disclosed) to acquire 90% interest in the Oko North and Oko South Gold Projects, a package of 40 granted medium-scale mining permits covering approximately 44,288 acres, or 180 square kilometres (km²), in the Cuyuni Mining District of Region Seven.
Regional geological setting of the Oko North and Oko South Projects within the Barama-Mazaruni greenstone belt of the Guiana Shield, showing the two consolidated blocks relative to the ground held by Canadian firm GMIN.
In conjunction with the acquisition, Liberty also received firm commitments from “sophisticated and professional” investors to raise A$5 million through the issue of 2 billion fully paid ordinary shares at an issue price of A$0.0025 per share.
According to Liberty, the funds raised under the placement will be applied towards immediate exploration programme, data compilation, geological mapping, geochemical sampling programme and maiden auger drilling at Oko North and Oko South and general working capital purposes.
Liberty plans to commence its maiden systematic geochemical programme in the third quarter of 2026. The programme will include soil sampling and trenching aimed at identifying targets for drilling.
The company will subsequently conduct geological mapping and structural interpretation across the interpreted continuation of the Oko trend before defining targets for a maiden drilling campaign. Liberty said the immediate exploration programme is designed to establish whether the geological trends hosting the Oko discoveries extend into its newly acquired ground.
Liberty’s entry adds another Australian player to the growing number of international firms pursuing opportunities in Guyana’s gold sector, particularly within the Oko district – where more than nine million ounces of gold has been established.
Share this:
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.
Similar Articles
Blunt of the day
Sports
Features/Columnists
Sir. Ronald Sanders
The GHK Lall Column
Weekend Cartoon
